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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended 30 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2022
Cash flows from operating activities        
Net loss $ (173,995) $ (118,009) $ (44,355)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation 1,387 639 373  
Stock-based compensation expense 27,139 17,056 4,310  
Amortization of premiums and discounts on marketable securities, net (615) 179 9  
Other non-cash adjustments 0 (16) 214  
Changes in operating assets and liabilities:        
Prepaid and other assets (6,616) (2,510) (2,444)  
Accounts payable and accrued liabilities 18,315 6,043 5,749  
Accrued compensation 2,250 5,788 1,838  
Operating lease right-of-use assets and liabilities, net 987 461 289  
Deferred revenue (5,120) (4,444) (3,100)  
Net cash used in operating activities (136,268) (94,813) (37,117)  
Cash flows from investing activities        
Purchases of marketable securities (355,837) (85,357) (6,693)  
Maturities of marketable securities 168,705 6,580 0  
Purchases of property and equipment (2,823) (3,740) (1,092)  
Net cash used in investing activities (189,955) (82,517) (7,785)  
Cash flows from financing activities        
Net proceeds from Issuance of common stock after deducting offering-related transaction costs and commissions 344,779 174,677 274,054 $ 519,300
Proceeds from the issuance of common stock under employee incentive equity plans 1,392 1,639 466  
Payments on long-term debt 0 0 (4,683)  
Proceeds from issuance of Series C convertible preferred stock, net of issuance costs 0 0 2,200  
Net cash provided by financing activities 346,171 176,316 272,037  
Net (decrease) increase in cash, cash equivalents and restricted cash 19,948 (1,014) 227,135  
Cash, cash equivalents and restricted cash at beginning of period 320,699 321,713 94,578  
Cash, cash equivalents and restricted cash at end of period 340,647 320,699 321,713 $ 340,647
Supplemental disclosure of cash flow information:        
Cash paid for interest 0 0 571  
Supplemental schedule of noncash investing and financing activities:        
Right-of-use assets obtained in exchange for operating lease liabilities 0 12,074 936  
Costs incurred, but not paid, in connection with public offering included in accounts payable and accrued liabilities 163 0 0  
Costs incurred, but not paid, in connection with purchases of property and equipment included in accounts payable and accrued liabilities 233 220 118  
Conversion of convertible preferred stock into common stock upon completion of initial public offering $ 0 $ 0 $ 136,920